Goldman says 'the pieces are in place' for a shift in Treasury yields, global 10-years

Goldman Sachs argues that recent market turbulence and lower energy costs have pushed major government bond yields down and could keep them contained, setting up conditions for less rate volatility. In a note late Friday, strategists led by William Marshall said “the pieces are in place” for yields to settle into a range, hinging on reduced volatility in risk assets and sustained relief in energy prices. Goldman points to the 10-year U.S. Treasury at about 4.87% after it topped 5.25% in early October, and the MOVE Index near 93. It expects the U.S. 10-year range around 4.75%-5.0%.